UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM N-PX

                      ANNUAL REPORT OF PROXY VOTING RECORD
                                       OF
                   REGISTERED MANAGEMENT INVESTMENT COMPANIES

INVESTMENT COMPANY ACT FILE NUMBER:      811-2687

NAME OF REGISTRANT:                      VANGUARD MUNICIPAL BOND FUNDS

ADDRESS OF REGISTRANT:                   PO BOX 2600, VALLEY FORGE, PA 19482

NAME AND ADDRESS OF AGENT FOR SERVICE:   ANNE E. ROBINSON
                                         PO BOX 876
                                         VALLEY FORGE, PA 19482

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:  (610) 669-1000

DATE OF FISCAL YEAR END:                 OCTOBER 31

DATE OF REPORTING PERIOD:                JULY 1, 2022 - JUNE 30, 2023



******************************* FORM N-Px REPORT *******************************
ICA File Number: 81102687D
Reporting Period: 07/01/2022 - 06/30/2023
VANGUARD MUNICIPAL BOND FUNDS

Each  investment  advisor's  votes  cast  are  shown  separately below. Sections
without  an  investment advisor listed reflect votes cast by the Fund. The votes
reported do not reflect any votes cast pursuant to a regulatory requirement.



====================== VANGUARD LONG-TERM TAX-EXEMPT FUND ======================

There is no proxy voting activity for the fund, as the fund did not hold any
votable positions during the reporting period.
========== END NPX REPORT



                                   SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

VANGUARD MUNICIPAL BOND FUNDS

By:  /s/Mortimer J. Buckley
        Mortimer J. Buckley*
        Chief Executive Officer, President, and Trustee

Date:   August 28, 2023
*By:    /s/Anne E. Robinson

Anne E. Robinson, pursuant to a Power of Attorney filed on July 21, 2023 (see
File Number 33-53683) and to a Power of Attorney filed on March 29, 2023 (see
File Number 2-11444), Incorporated by Reference.